The records of Ayayai Menswear report the following data for the month of September: $117,500 Purchases (at cost) 2,600 Purchases (at sales price) 10,600 Purchase returns (at cost) 1.600 Purchase returns (at sales price) 9,300 Beginning inventory (at cost) 2,800 3,600 Sales Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases (a) Beginning inventory (at sales price) Ending inventory, at retail $ $59,000 112.000 2,600 3,400 32,278 48,000 Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to 0 decimal places, eg. 5,275.)

The records of Ayayai Menswear report the following data for the month of September: $117,500 Purchases (at cost) 2,600 Purchases (at sales price) 10,600 Purchase returns (at cost) 1.600 Purchase returns (at sales price) 9,300 Beginning inventory (at cost) 2,800 3,600 Sales Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases (a) Beginning inventory (at sales price) Ending inventory, at retail $ $59,000 112.000 2,600 3,400 32,278 48,000 Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to 0 decimal places, eg. 5,275.)

Name: please help me and solve this with working , explanation ,formula than
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: please help me and solve this with working , explanation ,formula thanks (a)Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15,21% andthe final answers to O decimal places, e.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 2PB: DeForest Company had the following transactions for the month. Calculate the ending inventory dollar...

See similar textbooks

Similar questions

Akira Company had the following transactions for the month. Calculate the gross margin for the period for each of the following cost allocation methods, using periodic inventory updating. Assume that all units were sold for $25 each. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
Trini Company had the following transactions for the month. Calculate the cost of goods sold dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
Calculate the cost of goods sold dollar value for A66 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).
Akira Company had the following transactions for the month. Calculate the ending inventory dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
Bleistine Company had the following transactions for the month. Calculate the ending inventory dollar value for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
DeForest Company had the following transactions for the month. Calculate the ending inventory dollar value for the period for each of the following cost allocation methods, using periodic inventory updating. Provide your calculations. A. first-in, first-out (FIFO) B. last-in, first-out (LIFO) C. weighted average (AVG)
Calculate the cost of goods sold dollar value for A67 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG).
Golden Eagle Company began operations on April 1 by selling a single product. Data on purchases and sales for the year are as follows: Purchases: Sales: The president of the company, Connie Kilmer, has asked for your advice on which inventory cost flow method should be used for the 32,000-unit physical inventory that was taken on December 31. The company plans to expand its product line in the future and uses the periodic inventory system. Write a brief memo to Ms. Kilmer comparing and contrasting the LIFO and FIFO inventory cost flow methods and their potential impacts on the companys financial statements.
Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a cost of goods sold of $3,000. What was the beginning inventory if the ending inventory was $1,250?
The records of Pharoah's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $103,300 2,200 9,000 1,600 9,500 3,100 2,600 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $52,100 Ending inventory using conventional retail inventory method $ 95,200 2,200 3,200 29,725 50,100 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.)
The records of Novak Menswear report the following data for the month of September: Sales Sales returns Additional markups Markup cancellations Markdowns Markdown cancellations Freight on purchases (a) Ending inventory, at retail $118,700 Ending inventory, at cost $ LA 2,700 $ 12,300 2,600 9,500 3,700 4,600 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) Estimate the ending inventory using the retail inventory method. (Round intermediate calculations to 2 decimal place, e.g. 15.21% and the final answers to O decimal places, e.g. 5,275.) $68,900 112,000 2,800 4,200 34,900 48,300
The records of Sunland's Boutique report the following data for the month of April. Sales revenue Sales returns Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases $89,500 1,900 10,500 1,600 8,700 2,700 2,300 Purchases (at cost) Purchases (at sales price) Purchase returns (at cost) Purchase returns (at sales price) Beginning inventory (at cost) Beginning inventory (at sales price) $49,400 Ending inventory using conventional retail inventory method $ 95,900 1,900 2,900 28,799 46,400 Compute the ending inventory by the conventional retail inventory method. (Round answer to O decimal places, e.g. 28,987.)